Magma HDI Two Wheeler Insurance

Magma HDI Two Wheeler Insurance Policy is offered by Magma HDI General Insurance Company Ltd. Your two-wheeler is a thing of pride for you; we understand that. Which is why our two-wheeler package policy is designed to cover the compulsory Third Party Liability as required by Motor Vehicles Act as well as any loss or damage to your two-wheeler. Compare Two Wheeler Insurance Package benefits, sum assured, exclusions, inclusions and applied Online.

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Benefits of Magma HDI Two Wheeler Insurance

If the Insured once does not make a claim policy during the Insurance period, a No Claim Bonus is offered on renewals.

No Claim Bonus discount can go as high as 50%.

Voluntary Excess discount will be offered to the insurer.

Discount of 2.5% on the OD Premium for the Vehicle installed an ARAI approved Anti-theft devices.

Sum Assured: your two-wheeler is insured at a fixed value called the Insured’s Declared Value.

Sum Assured for Two Wheeler Insurance Package

At Magma HDI Policy, your two-wheeler is insured at a fixed value called the Insured’s Declared Value (IDV). The IDV is calculated by the manufacturer’s listed selling price of the two-wheeler (plus the listed price of any accessories) after deducting the depreciation for every year as per the following rates.

Age of the vehicle

% of Depreciation

Not exceeding six months

5%

Exceeding six months but not exceeding 1 year

15%

Exceeding one year but not exceeding two years

20%

Exceeding two years but does not exceed three years

30%

Exceeding three years but not exceeding four years

40%

Exceeding four years but not exceeding five years

50%

Inclusions of Magma HDI Two Wheeler Insurance

Third party liability: The Policy protects you and your two-wheeler against any legal liability arising out of the use of the vehicle, towards third parties, might also leading to any bodily injury to/on the death of a person and any damage caused to third party property.

Loss or damage to the vehicle: The two-wheeler package policy plan covers against any loss or damage caused to your two-wheeler or its accessories due to the following occurrences as follows: